Question

Computer 500 Cash 500 Internet expense 100 Cash 100 Office supplies 100 Cash 100 Office equipment...

Computer 500
Cash 500
Internet expense 100
Cash 100
Office supplies 100
Cash 100
Office equipment 500
Cash 500
Training expense 177
Cash 177
Prepaid Insurance 200
Cash 200
Business License expense 70
Cash 70
Software 300
Cash 300
Intangible asset- Domain Name 50
Cash 50
Communication expense 50
Accounts Payable 50
Furniture and Fixtures 200
Cash 200
Advertising Expense 20
Cash 20

Can you create a monthly projected balance sheet and projected income statement for this bookkeeping business? Here are some startup costs

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Answer #1
Projected Income statement
Revenues 2217
Operating expenses
Internet Expenses 100
Office Supplies 100
Training expenses 177
Communication expense 50

Advertising Expense

Business License Expenses

20

70
Total Expenses 517
Profit transfered to capital account 1700
Projected Balance Sheet
Assets
Computer 500
Office Euipments 500
Prepaid Insurance 200
Software 300
Intangibe Assets Domain 50
Furniture and Fixtures 200
Total Assets 1750
Liabilities
Retained earnings (Profit ) 1700
Accounts Payable 50
Total Liabilities 1750
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